Mandatory Physical Inventory
Lamar University is required by the state of Texas to conduct an annual verification of its property. With over 10,000 assets distributed among 125 departments, this is a substantial undertaking.
Each department has a designated Property Custodian who is responsible for managing all equipment assigned to their inventory. This includes ensuring that the inventory verification is conducted and submitted in a timely manner. The Property Custodian plays a critical role in maintaining the accuracy and integrity of the university's property records.
On May 1st, Property Management will send each department a list of assets to verify and a certificate. The deadline for completing and returning the list and certificate back to Property Management is June 15th.
To verify the assets, departments must physically locate each device and update the provided list with its current location and condition (Good, Fair, Poor). If there are any discrepancies other than a change in the physical location, the department must provide the appropriate justification and paperwork.
If any assets cannot be located even after an extended search, they should be declared missing using the Missing, Damaged, or Stolen Property Investigation Report. In such cases, a Police case number must be included.
Once the location and condition of all assets are listed/updated, the Property Custodian will submit the signed verification certificate and the completed list to Property Management.
Thank you for your cooperation in this matter.
Best regards,
Property Management
DETAILED INSTRUCTIONS
Below is a link to a printable list of detailed instructions for conducting the inventory verification.
Inventory Verification Instruction
QUESTIONS?
For assistance or questions, please contact Chad Morris with Property Management.
Chad Morris: (409) 880-1886 / cmorris13@lamar.edu
